Icon sticks with CSM

COAL seam methane hopeful Icon Energy says independent advice suggests the company's Surat Basin permit ATP 626 contains between 900 billion and 1.25 trillion cubic feet of gas reserves.
Icon sticks with CSM Icon sticks with CSM Icon sticks with CSM Icon sticks with CSM Icon sticks with CSM

The junior company, which changed its focus to CSM at the beginning of the year, said it has been holding preliminary talks with several potential farm-in partners, but was yet to finalise an arrangement.

Icon is now moving to test the three CSM exploration wells drilled in the permit to date: Stitch-1, Natasha-1 and Lydia-1.

Dewatering of the wells is expected to begin next month, following the arrival of specialist equipment from the United States, Icon said.

"Our three well are located where the sub-surface structure was expected to induce

favourable reservoir characteristics in the structurally folded coal seams," the company said.

"This structure is known as the Crowder Nose and is similar geologically to the Undulla Nose to the north of Moonie, which has proven to have some of the better coal permeabilities that are now proven successful methane producers."